Menu
31/03/2004
Crisis hit Mayflower set to call in administrators
High Wycombe-based specialist truck and bus manufacturer Mayflower has confirmed that talks with lenders have broken down and is in discussions with administrators.
Yesterday the board of Mayflower requested that the listing of its ordinary shares be "suspended with immediate effect".
In a statement the company said: "This is due to the board's belief that it is likely that the current negotiations with its lenders will prove unsuccessful.
"The board is currently reviewing all options available to the company and a further announcement will be made in due course."
Earlier this week the company said that it was investigating financial irregularities on the discovery of accountancy errors believed to amount to £20 million.
Two senior company executives, CEO John Simpson and Finance Director David Donnelly have already announced that they are to step down as the crisis at the company has deepened.
Mayflower owns a 70% stake in TransBus International, the UK's leading bus builder, which designs and builds chassis, bodies and complete vehicles.
TransBus brands include vehicle body builders Alexander and Plaxton, and chassis manufacturer Dennis.
(SP)
Yesterday the board of Mayflower requested that the listing of its ordinary shares be "suspended with immediate effect".
In a statement the company said: "This is due to the board's belief that it is likely that the current negotiations with its lenders will prove unsuccessful.
"The board is currently reviewing all options available to the company and a further announcement will be made in due course."
Earlier this week the company said that it was investigating financial irregularities on the discovery of accountancy errors believed to amount to £20 million.
Two senior company executives, CEO John Simpson and Finance Director David Donnelly have already announced that they are to step down as the crisis at the company has deepened.
Mayflower owns a 70% stake in TransBus International, the UK's leading bus builder, which designs and builds chassis, bodies and complete vehicles.
TransBus brands include vehicle body builders Alexander and Plaxton, and chassis manufacturer Dennis.
(SP)
Related UK National News Stories
Click here for the latest headlines.
23 July 2013
1,000 New Jobs As Bentley Develop New SUV
The development of a new luxury car by car maker Bentley will see some 1,000 new jobs created in the UK. The manufacturers headquarters in Crewe will receive investment of £800 million to develop and build a new sports utility vehicle (SUV).
1,000 New Jobs As Bentley Develop New SUV
The development of a new luxury car by car maker Bentley will see some 1,000 new jobs created in the UK. The manufacturers headquarters in Crewe will receive investment of £800 million to develop and build a new sports utility vehicle (SUV).
13 March 2015
Staff At North Wales Bus Company Find Company Ceases Overnight
Employees of Western Greyhound in Cornwall have arrived at work this morning to find the company has ceased trading. According to a report by the BBC, around 40 staff arrived for work on Friday morning and found the depot closed.
Staff At North Wales Bus Company Find Company Ceases Overnight
Employees of Western Greyhound in Cornwall have arrived at work this morning to find the company has ceased trading. According to a report by the BBC, around 40 staff arrived for work on Friday morning and found the depot closed.
26 July 2013
Protesters Maintain Overnight Presence In Sussex
An all night protest has been held in a Sussex village over exploratory oil drilling, after permission was granted for a 3,000ft well and 2,500ft horizontal bore. Around 25 protesters formed a chain at the site near Balcombe overnight, according to the BBC.
Protesters Maintain Overnight Presence In Sussex
An all night protest has been held in a Sussex village over exploratory oil drilling, after permission was granted for a 3,000ft well and 2,500ft horizontal bore. Around 25 protesters formed a chain at the site near Balcombe overnight, according to the BBC.
25 July 2013
Exploratory Oil Drilling In West Sussex Given Go Ahead
Exploratory oil drilling is to begin in West Sussex. The environment agency have issued a waste permit to energy company, Cuadrilla, allowing it to begin work near Balcombe.
Exploratory Oil Drilling In West Sussex Given Go Ahead
Exploratory oil drilling is to begin in West Sussex. The environment agency have issued a waste permit to energy company, Cuadrilla, allowing it to begin work near Balcombe.
18 July 2013
Trainmaker Wins Thameslink Electric Contract
Derby-based trainmaker Bombardier has won a £180 million deal to supply some 116 electric rolling stock vehicles. The new stock will be used on the north-south, cross-London Thameslink route. The contract also contains the option for an additional 140 vehicles, which brings the potential value of the order to£385 million.
Trainmaker Wins Thameslink Electric Contract
Derby-based trainmaker Bombardier has won a £180 million deal to supply some 116 electric rolling stock vehicles. The new stock will be used on the north-south, cross-London Thameslink route. The contract also contains the option for an additional 140 vehicles, which brings the potential value of the order to£385 million.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
